Aclarion, Inc., a healthcare technology company, reported financial results for the quarter ended September 30, 2024. Revenue for the quarter was $14,407, a decrease from $19,065 in the same period last year. The company experienced a gross loss of $6,925 compared to a gross loss of $493 in the previous year, primarily due to the conclusion of certain clinical activities. Operating expenses totaled $1,289,033, with sales and marketing expenses increasing by 21% to $232,775, and general and administrative expenses rising by 12% to $860,461. Research and development expenses slightly decreased to $195,797. The net loss for the quarter was $1,366,176, deepening from a net loss of $998,010 in the prior year. The company also accrued dividends for preferred stockholders amounting to $12,142. Aclarion's cash position, including restricted cash, was $1,322,098 as of September 30, 2024. The company...Show More

Aclarion, Inc., a healthcare technology company, reported financial results for the quarter ended September 30, 2024. Revenue for the quarter was $14,407, a decrease from $19,065 in the same period last year. The company experienced a gross loss of $6,925 compared to a gross loss of $493 in the previous year, primarily due to the conclusion of certain clinical activities. Operating expenses totaled $1,289,033, with sales and marketing expenses increasing by 21% to $232,775, and general and administrative expenses rising by 12% to $860,461. Research and development expenses slightly decreased to $195,797. The net loss for the quarter was $1,366,176, deepening from a net loss of $998,010 in the prior year. The company also accrued dividends for preferred stockholders amounting to $12,142. Aclarion's cash position, including restricted cash, was $1,322,098 as of September 30, 2024. The company raised funds through various means, including a public offering of units, an equity line, and the issuance of Series B and C preferred stock. Management believes the current funds will sustain operations into December 2024 but acknowledges the need for additional financing to continue technology development. The company's internal control over financial reporting was not effective due to material weaknesses, but efforts are being made to improve these controls.